Sunrun (NASDAQ:RUN) Coverage Initiated at TD Cowen

Research analysts at TD Cowen initiated coverage on shares of Sunrun (NASDAQ:RUN) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $21.00 price target on the energy company’s stock. TD Cowen’s price target suggests a potential upside of 112.77% from the company’s current price.

RUN has been the subject of a number of other research reports. UBS Group reduced their price objective on Sunrun from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Truist Financial reiterated a “hold” rating and set a $12.00 price target (down from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. The Goldman Sachs Group decreased their price target on Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Oppenheimer dropped their price objective on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Susquehanna decreased their target price on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.21.

Sunrun Stock Up 8.1 %

NASDAQ:RUN opened at $9.87 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company’s fifty day moving average price is $12.09 and its 200-day moving average price is $15.12. Sunrun has a 1-year low of $9.01 and a 1-year high of $22.26. The firm has a market capitalization of $2.21 billion, a P/E ratio of -5.42 and a beta of 2.54.

Insider Buying and Selling at Sunrun

In other Sunrun news, CFO Danny Abajian sold 4,869 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $79,608.15. Following the transaction, the chief financial officer now directly owns 269,393 shares of the company’s stock, valued at $4,404,575.55. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the sale, the director now owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,691 shares of company stock valued at $2,011,601 over the last quarter. 3.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of Sunrun by 33.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after buying an additional 367,835 shares during the period. Erste Asset Management GmbH acquired a new position in Sunrun in the third quarter valued at approximately $76,152,000. Symmetry Investments LP purchased a new position in Sunrun in the second quarter worth approximately $1,205,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Sunrun by 113.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after purchasing an additional 1,337,302 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of Sunrun in the 3rd quarter valued at $955,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.